Visa To Buy Fraedom

2/9/2018 3:02 AM ET

Visa (V) said that it agreed to acquire Fraedom, a Software-as-a-Service technology company providing payments and transaction management solutions for financial institutions and their corporate customers.

Fraedom has been a Visa partner for nearly ten years, and its technology underlies Visa IntelliLink Spend Management, a core platform for Visa's commercial and small-business clients.

The transaction, which is subject to the customary closing conditions, is expected to close in the first-quarter of 2018.

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